Montreal Real Estate Market: Strong Start to the Year With New Sales and Price Records, Propelled by Condominiums and Plexes
L'ÎLE-DES-SOEURS, Quebec, Feb. 03, 2021 (GLOBE NEWSWIRE) -- The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the Montreal Census Metropolitan Area (CMA) for the month of January, based on the real estate brokers' Centris provincial database.
"Despite more severe health restrictions, January continued in the footsteps of 2020. Condominiums and plexes registered record sales, including on the Island of Montreal, with the highest number of transactions ever recorded since the early 2000s," said Charles Brant, director of market analysis at the QPAREB. "This has resulted in a drop in the inventory of properties available for sale in the areas peripheral to the Island. The slowdown in sales growth for the single-family home category is clearly attributable to a lack of active listings," he added.
January highlights
- A new January sales record was set in the Montreal CMA, as transactions jumped by 17 per cent compared to January of last year.
- Strong increases were seen in several peripheral markets, including Vaudreuil-Soulanges (+33 per cent), the North Shore (+29 per cent), as well as on the South Shore and the Island of Montreal (+17 per cent).
- Sales fell by 6 per cent in Saint-Jean-sur-Richelieu and by 7 per cent in Laval, mainly due to a shortage of properties for sale in the latter area.
- Sales of plexes (+34 per cent) and condominiums (+20 per cent) rose significantly in the CMA.
- There was an increase in active condominium listings (+9 per cent), mainly on the Island of Montreal (+55 per cent).
- With market conditions still very much in favour of sellers, median prices continued to experience significant growth for single-family homes (+23 per cent), and remained at high levels for condominiums (+17 per cent) and plexes (+14 per cent).
Additional information:
Quarterly statistics ? Barometer for the province of Quebec
Detailed and cumulative statistics for the province and regions
If you would like additional information from the Market Analysis Department, such as specific data or regional details on the real estate market, please write to us.
About the Quebec Professional Association of Real Estate Brokers
The Quebec Professional Association of Real Estate Brokers (QPAREB) is a non-profit association that brings together more than 13,000 real estate brokers and agencies. It is responsible for promoting and defending their interests while taking into account the issues facing the profession and the various professional and regional realities of its members. The QPAREB is also an important player in many real estate dossiers, including the implementation of measures that promote homeownership. The Association reports on Quebec's residential real estate market statistics, provides training, tools and services relating to real estate, and facilitates the collection, dissemination and exchange of information. The QPAREB is headquartered in Quebec City and has its administrative offices in Montreal. It has two subsidiaries: Centris Inc. and the Collège de l'immobilier du Québec. Follow its activities at qpareb.ca or via its social media pages: Facebook, LinkedIn, Twitter and Instagram.
About Centris
Centris is a dynamic and innovative technology company in the real estate sector. It collects data and offers solutions that are highly adapted to the needs of professionals. Among these solutions is Centris.ca, the most visited real estate website in Quebec.
For more information:
Image bank (credit QPAREB) available free of charge.
Marjolaine Beaulieu
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